Equities analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to report earnings per share (EPS) of $0.05 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Pattern Energy Group’s earnings, with the lowest EPS estimate coming in at ($0.18) and the highest estimate coming in at $0.33. Pattern Energy Group reported earnings per share of ($0.13) in the same quarter last year, which would indicate a positive year-over-year growth rate of 138.5%. The business is scheduled to announce its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that Pattern Energy Group will report full year earnings of ($0.15) per share for the current financial year, with EPS estimates ranging from ($0.64) to $0.40. For the next fiscal year, analysts forecast that the company will post earnings of $0.73 per share, with EPS estimates ranging from ($0.46) to $2.02. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.11). The business had revenue of $135.00 million for the quarter, compared to analysts’ expectations of $137.90 million. Pattern Energy Group had a negative return on equity of 3.00% and a negative net margin of 12.36%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share.

PEGI has been the subject of several recent analyst reports. Raymond James cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 target price on shares of Pattern Energy Group in a research note on Thursday, August 8th. Bank of America lifted their target price on shares of Pattern Energy Group from $23.00 to $23.50 and gave the stock a “neutral” rating in a research note on Tuesday. Wells Fargo & Co cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $24.00 to $26.00 in a research note on Wednesday. Finally, TheStreet cut shares of Pattern Energy Group from a “b-” rating to a “c” rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.93.

PEGI stock traded up $0.17 during midday trading on Wednesday, hitting $25.98. The stock had a trading volume of 1,605,100 shares, compared to its average volume of 796,115. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 17.92 and a beta of 1.05. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. Pattern Energy Group has a 12-month low of $17.23 and a 12-month high of $26.09. The business has a 50-day moving average price of $23.38.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.422 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.69 annualized dividend and a dividend yield of 6.50%. Pattern Energy Group’s dividend payout ratio is presently 116.55%.

Several hedge funds and other institutional investors have recently made changes to their positions in PEGI. Norges Bank purchased a new stake in shares of Pattern Energy Group during the 4th quarter valued at $16,363,000. Bank of Montreal Can grew its stake in shares of Pattern Energy Group by 512.3% during the 1st quarter. Bank of Montreal Can now owns 615,965 shares of the utilities provider’s stock valued at $13,551,000 after buying an additional 515,374 shares during the period. Intact Investment Management Inc. grew its stake in shares of Pattern Energy Group by 36.1% during the 1st quarter. Intact Investment Management Inc. now owns 1,739,904 shares of the utilities provider’s stock valued at $50,701,000 after buying an additional 461,400 shares during the period. BlackRock Inc. grew its stake in shares of Pattern Energy Group by 6.1% during the 2nd quarter. BlackRock Inc. now owns 7,208,754 shares of the utilities provider’s stock valued at $166,451,000 after buying an additional 414,175 shares during the period. Finally, Gilman Hill Asset Management LLC acquired a new position in shares of Pattern Energy Group during the 1st quarter valued at $5,619,000. 81.61% of the stock is owned by institutional investors.

About Pattern Energy Group

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

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